AI Financial Corporation
AIFC Technology Software Infrastructure
AI Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.8 million, up 109.0% from fiscal 2024. In the quarter to June 2026, revenue fell 62.2%, EPS fell 242.0%, free cash flow fell 16.1% and total debt rose 31.9%, each against the same quarter a year earlier.
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AI Financial Corporation (AIFC) Altman Z-score
AI Financial Corporation's Altman Z-score for fiscal 2025 is 0.07, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.07 | 0.88 |
| FY2024 | −0.80 | 0.15 |
| FY2022 | −0.95 | 2.74 |
| FY2021 | −3.69 | (1.31) |
| FY2020 | −2.38 | (0.61) |
| FY2019 | −1.77 | (1.71) |
| FY2018 | −0.06 | (0.95) |
| FY2017 | 0.88 | 0.03 |
| FY2016 | 0.85 | (1.14) |
| FY2015 | 1.99 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.02) | — | −0.02 | |
| Retained earnings / total assets | (0.33) | — | −0.46 | |
| EBIT / total assets | (0.02) | — | −0.06 | |
| Market value of equity / total liabilities | 1.00 | — | 0.60 | |
| Sales / total assets | 0.02 | — | 0.02 | |
| Altman Z-score | Distress zone | 0.07 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 17.60 | ||
Z and Z″ put AI Financial Corporation in different zones: distress zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FATN FatPipe, Inc. compare | 4.2× |
| AVX AVAX One Technology Ltd. compare | 1.0× |
| AIFC AI Financial Corporation | 0.1× |
| REKR Rekor Systems, Inc. compare | −3.0× |
| VERI Veritone, Inc. compare | −4.1× |
| VHC VirnetX Holding Corp compare | −7.1× |
| BNAI Brand Engagement Network Inc. compare | −8.0× |
| AILEQ iLearningEngines, Inc. compare | — |
| LYLTQ Loyalty Ventures Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets